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In-depth reviews

Hyundai Ioniq 6 review: running costs & insurance

The Hyundai Ioniq 6 is relatively expensive to buy, but a long warranty and low running costs could make it more affordable than you think

Overall rating

4.5 out of 5

Running costs & insurance rating

4.5 out of 5

Insurance groupWarrantyService intervalAnnual CC cost (20%/40%)
36-415yrs/unlimited miles2yrs/20,000 milesFrom £188/£216

Like most electric cars, the Hyundai Ioniq 6 is more expensive to buy outright than a traditional petrol or diesel saloon car. However, business users will be able to benefit from rock-bottom Benefit-in-Kind (BiK) company car tax rates, while every Ioniq 6 owner can reap the rewards of drastically reduced running costs.

Hyundai Ioniq 6 insurance group

Which insurance group the Hyundai Ioniq 6 sits in generally relies on the powertrain setup you choose. Dual-motor cars sit in the relatively high group 41, which is also occupied by certain Long Range versions of the Polestar 2

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Single motor cars instead occupy the slightly lower group 37 and 38 – this depends on whether you choose the Premium or Ultimate trim – which is in-line with non-M versions of the BMW i4. Regardless, no matter which configuration of the Ioniq 6 you go for, the Hyundai saloon will almost always be cheaper to insure than the Tesla Model 3, which sits in groups 48-50. 

Warranty

All Hyundai models come with a five-year/unlimited-mileage warranty. This is amongst the best in the business, bar perhaps the seven-year/100,000-mile coverage offered for the Kia EV6. Unfortunately, unlike some electric cars, the Ioniq 6’s battery is not covered under a separate warranty – BMW says it’ll cover the i4’s battery for up to eight years.

Servicing

Electric cars typically require less-frequent servicing than their petrol-powered equivalents and the Ioniq 6 is no different. Hyundai says its electric saloon will need to come in for service every two years or 20,000 miles – whichever comes soonest. This is unlike Teslas where there are no set service intervals, with the car notifying you whenever a service is required

Road tax

The Hyundai Ioniq 6 – like all electric cars – is exempt from road tax (VED) until 2025. EVs are also not required to pay the London Congestion Charge and the city’s Ultra-Low Emission Zone (ULEZ) charge for the time being.

Depreciation

Over a course of three years and 36,000 miles, the Hyundai Ioniq 6 should retain anything between 51% and 56% of its initial value, with single motor cars able to fend off depreciation the best. This is about average for the class, although the Polestar 2 and BMW i4 will hold onto slightly more of their original asking prices at around 60%.

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Hello there, I’m Tom Jervis and I have the pleasure of being the Content Editor here at DrivingElectric. Before joining the team in 2023, I spent my time reviewing cars and offering car buying tips and advice on DrivingElectric’s sister site, Carbuyer. I also continue to occasionally contribute to the AutoExpress magazine – another of DrivingElectric’s partner brands. In a past life, I worked for the BBC as a journalist and broadcast assistant for regional services in the east of England – constantly trying to find stories that related to cars!

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